Loading...
Market
What will be the major factor influencing oil prices in 2025?
2
Resolution / Starting Odds
OPEC+ production decisions • 25%
Global economic conditions • 25%
Geopolitical tensions • 25%
Technological advancements in energy • 25%
Analysis from major financial and energy news outlets
Story
OPEC+ Delays Oil Output Hike by Three Months, Extends 3.65 Million Bpd Cuts Until 2026
Dec 5, 2024, 12:00 PM
OPEC+ has agreed to delay its planned oil output increase by three months until April, keeping production levels unchanged for the first quarter of next year. The group aims to manage oil prices amid a looming surplus and will gradually unwind its existing cuts from April until September 2026. The compensation period for overproducing countries has been extended until the end of June 2026. Additionally, the assessment period by independent sources has been extended to November 2026 to guide 2027 production levels. The collective group cut of 2 million barrels per day has been extended until the end of 2026. OPEC+ also confirmed the extension of overall oil output cuts of 3.65 million barrels per day until the end of 2026. The United Arab Emirates (UAE) will begin increasing its oil output from April 2025, with a required production increase of 300,000 barrels per day phased in gradually until September 2026.
View original story
Similar markets
OPEC+ production decisions • 25%
Non-OPEC+ supply increase • 25%
China's economic measures • 25%
Other factors • 25%
Geopolitical tensions • 25%
OPEC+ production changes • 25%
Global economic conditions • 25%
Other factors • 25%
Middle East tensions • 25%
Global economic slowdown • 25%
OPEC production decisions • 25%
Other • 25%
Geopolitical tensions • 25%
Economic growth • 25%
Technological advancements • 25%
Environmental policies • 25%
U.S. sanctions on Iran • 25%
OPEC production changes • 25%
Russian oil supply • 25%
Other factors • 25%
United States • 25%
Saudi Arabia • 25%
Russia • 25%
Iran • 25%
Oil prices increase by more than 10% • 25%
Oil prices increase by less than 10% • 25%
Oil prices remain stable • 25%
Oil prices decrease • 25%
Significant increase (>10%) • 25%
Moderate increase (5-10%) • 25%
No significant change • 25%
Decrease • 25%
Yes • 50%
No • 50%
Below $50 • 25%
$50 to $70 • 25%
$70 to $90 • 25%
Above $90 • 25%
China remains the largest buyer • 25%
India becomes the largest buyer • 25%
European countries become major buyers • 25%
Other countries become major buyers • 25%